Question

Consider the following statements regarding territorial jurisdiction and applicability of Competition Act: Statement 1: Competition Act applies only to conducts affecting Indian markets. Statement 2: Foreign entities conducting anticompetitive conduct affecting India are subject to the Act. Statement 3: Mergers involving foreign entities with operations in India require CCI approval. Statement 4: Competition Act has extraterritorial application to the extent conduct affects Indian commerce. Which statements are correct?

Q: Answer-Consider the following statements regarding territorial jurisdiction and applicability of Competitio...

Act applies to Indian market conductStatement 1 is correct. Foreign entities are covered if conduct affects IndiaStatement 2 is correct. Foreign mergers with Indian impact require approvalStatement 3 is correct. Extraterritorial application existsStatement 4 is correct. All statements are correct.